- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Rallies toward 2018 highs above 114.00
USD/JPY Price Analysis: Rallies toward 2018 highs above 114.00
- USD/JPY records fresh daily gains on Friday in the European session.
- The pair remains poised for weekly gains of nearly 1%.
- Momentum oscillators hold onto the overbought zone warrants caution for the pair.
USD/JPY extend the previous session’s gains on the last trading day of the week. The pair opened lower but swiftly rallies toward the YTD highs as the pair gathers momentum in the European trading hour. At the time of writing, USD/JPY is trading at 114.15, up 0.43% so far.
USD/JPY daily chart
-637698751961274347.png)
On the daily chart, the USD/JPY pair has been riding higher after testing the low of 109.12 on September 22. The pair posted gains of nearly 50-pips in the intraday session, indicating the underlying bullish sentiment. Having said that, if the price sustains above the intraday high, the bulls will be next looking for October 2018 high at 114.55.
Alternatively, the Moving Average Convergence Divergence (MACD) indicator trades in the overbought zone. Any downtick in the MACD could call the USD/JPY bears to takeout the 113.50 horizontal support level. Next, on the bear’s radar will be the 23.6% Fibonacci retracement, which extends from the low of 109.21, at 113.00 followed by this Monday’s low of 112.15.
USD/JPY additional levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
